ALM Flagship National Conference, 1st June 2017, QEII, SW1

Jon Hancock Lloyd’s new Director of Performance Management will be the Keynote Speaker at the ALM’s Flagship Annual National Conference on 1st June at the QEII Conference Centre in London.

In addition to our usual packed programme of excellent speakers we are offering members the opportunity to book for our 1st June event online.  The cost for a full day's programme including lunch and refreshments is £220 for members and £110 for family members.  Or you can send us a cheque.  Cheques payable to ALM Ltd.

 ‘Balancing risk and reward’

The 2017 ALM National Conference is being held against a background of ever more challenging market conditions. As Names plan their underwriting for 2018 they will have     to make some very difficult decisions. Most Names will now have made continuous profits since the closure of the 2002 year account. The open year forecasts, for 2015 and 2016, also look encouraging. When looked at in terms of the results declared since 2002, there      is no doubt that insurance, and particularly the Lloyd’s market, has been one of the most lucrative asset classes in which to invest in recent years. However, this very attractiveness has been the main reason why there has been steady erosion in rating levels in many classes. Despite the losses that hit the insurance market in the second half of 2016, the market has shown no signs of any real improvement. There is still excessive competition for business and an overwhelming worldwide surplus of capital that could easily be deployed    in the aftermath of a major loss.

Names’ capacity now represents less than 10% of the overall Lloyd’s capacity and could  fall further if the market pre-empts once again for 2018. Following an introduction from    the Chairman of the ALM, Alan Lovell, the first speaker is Chandon Bleackley, the Chief Executive of the ALM, who will examine some of the main issues that face private capital   at Lloyd’s, and will outline some of the initiatives on behalf of Names in which the ALM is currently involved.

Rates may well fall even more for 2018, and this may erode underwriting margins and weaken the market still further. Our second speaker, John Cavanagh, the Chief Executive of Willis Re, will examine the state of the market from the perspective of a senior broker.     If the US dollar strengthens again in 2018, Names face the prospect of running more real risk in a weak market. Returns are promised to no one, but risk is ever-present. David Huckstepp, the head of reinsurance at Tokio Marine Kiln, will examine the state of the reinsurance market from an underwriter’s point of view. The Tokio Marine Kiln syndicate, 510, has more Names’ capacity on it than any other syndicate trading in the market.

James Sparrow, the Chief Executive of Alpha Insurance Analysts, will address the issue of dealing with the current difficult market from the perspective of a Members’ agent. James, who is in his fortieth year as an unlimited Name, has been a highly successful syndicate analyst, and has a very good track record of syndicate selection over the past 30 years.

After lunch, we will hear from three more speakers, the first of whom is Jon Hancock, the recently appointed Director of Performance Management at Lloyd’s. This will be the first time that he has addressed the members of the ALM since he took over this role from his predecessor, Tom Bolt, at the end of 2016. Neil Maidment, the chief underwriting officer of Beazley, will then talk about the underwriting outlook. Again, syndicate 623 is one of    the syndicates that is most heavily supported by Names. Our final speaker will be Eamonn Flanagan from Shore Capital, who is one of the UK’s top insurance analysts, who will be examining the Lloyd’s quoted companies and their future prospects.



Date and time: 
Thursday, 1 June, 2017 - 10:00
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